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By Anthony O. Goriainoff
Global Ports Holding PLC said Friday that it had reached a preliminary agreement with the government of St. Lucia for a 30-year concession, with a potential 10-year extension option, for its cruise-related operations in the country.
The London-listed cruise port operator said that following the successful execution of the concession agreement it will invest in a material upgrade of cruise port facilities, and that these include expanding the existing berth in Point Seraphine to allow the handling of Oasis-class ships.
The company will also work on the retail offer which includes redeveloping the Vendor’s Arcade and other facilities in the capital, Castries.
Global Ports said it expects to sign the concession agreement in the first half of 2023, adding that there is no certainty regarding the timing or the terms of the agreement.
“GPH is committed to driving significant economic benefits for the local residents through improving the facilities in and around the port such as Fisherman’s Village and driving increased passenger spend in the destination,” the company said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
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